Fraud, Scams & Cybercrime

Fraud, Scams & Cybercrime

Laos Central Bank Warns on Illegal Fundraising

By Samuel Riding | 09/11/2016

Financial institutions found to have attracted about 200,000 depositors with offers of 6%-9% interest.

Anti-Money Laundering

India Flushes Out Fake Notes in Overnight Gambit

By Samuel Riding | 09/11/2016

Current series of ₹1,000 and ₹500 notes cancelled overnight; ₹2,000 to be introduced.

Fraud, Scams & Cybercrime

Bangladesh to Get $15mn of Heist Money Back This Week

By Samuel Riding | 07/11/2016

A further $30mn which found its way to a casino’s accounts is expected to follow.

Fraud, Scams & Cybercrime

Australian Banks Asked to Pay Back $135mn in Fees

By Samuel Riding | 28/10/2016

Institutions were collecting fees for advice without giving any advice.

Cybersecurity

HK Launches Brokerage Cybersecurity Review

By Samuel Riding | 14/10/2016

SFC says compromised or unauthorised transactions amounted to $12.89mn.

Fraud, Scams & Cybercrime

HK, Australia Targeted in Odinaff SWIFT Attacks

By Samuel Riding | 12/10/2016

Report warns upcoming attacks could be similar to Bangladesh Bank heist.

Fraud, Scams & Cybercrime

Too Big to Care

By Peter Guy | 11/10/2016

Wells Fargo scandal shows regulation’s failure to protect individual customers.

Fraud, Scams & Cybercrime

India Calls Top Brokers to Account

By Samuel Riding | 07/10/2016

Show cause notices issued to brokers for alleged involvement in USD853mn spot exchange scam.

Conduct, Culture & Accountability

Korea to Implement Performance-Based Bank Pay

By Samuel Riding | 07/10/2016

Bank workers say initiative is likely to compromise quality of services.